Perfios Raises $229M for Real-Time Credit Underwriting
Perfios offers real-time credit underwriting solutions to banks and non-banking financial institutions. The Indian fintech has secured $229M in Series D, indicating its ambitious plans for global expansion.
Perfios’ valuation surged to over $900 million, a 120% increase from the previous year’s $413 million funding round. The successful funding round stands out in the current climate, where many startups struggle to raise capital.
Led by Indian private equity firm Kedaara Capital, the investment round included secondary sales. Moreover, the company has announced its intention to go public within the next 18 to 24 months, and private equity firms’ participation indicates its IPO preparation.
Perfios provides services, including automating loan decisions, assessing customer financial credibility, and aggregating data for APIs. Leveraging artificial intelligence (AI) and machine learning (ML), the platform offers comprehensive credit risk evaluations. Moreover, it can forecast market trends.
With its above-par services, Perfios is a recognized leader in India and has a strong presence in the Middle East and Southeast Asia.
Nishant Sharma, founder, and managing partner at Kedaara Capital, commended Perfios, “Perfios has created truly the best-in-class fintech SaaS business that plays on the strong secular growth and increasing digitization levels in the financial services sector in India and globally.”
Sabyasachi Goswami, CEO of Perfios, expressed gratitude for the support and shared the company’s plans.
“This investment will help us in strengthening the digital transformation journey of our partners, thereby powering financial inclusion and providing access to financial services to billions across the globe.”
